CEE, CCW
In the midst of a lot of negative news om the regulatory front, it's nice to report some positive news. African gold miner Centamin aka CEE has reported that Egypt has established a modern regulatory framework to cover the new concessions it was awarded in 2021. (This framework also applies to ABX's concessions granted at the same time.) The terms which include a 5% NSR for the government, a defined tax rate, and a 15% government net financial interest, look reasonable, and CEE seems have to have everything laid out for them. Expect exploration on those new concessions to ramp up now that the new framework is in place.
Note that this framework does not apply to CEE's producing Sukari gold mine, which has its own existing agreement.
Message 34356509
Until Recently Canada Silver Cobalt Works aka CCW's focus at its past-producing Castle mine near Cobalt, Ontario, has been on finding mew deep lying silver/cobalt veins, at which they have been successful. But they have also been looking for surface expressions of mineralization, and in the process they have come across gold showings in area called Miller Lake, which they found both alteration and quartz veining. Most recently they have been doing some stripping and collected some grab samples. Thanks to them owning their own labs, they got a 3-day turnaround on assays, which ranged as high as 3.2 g/t Au with a number of samples over 1.0 g/t. Now they are embarking on the next step, trenching, which will reveal a more thorough view of Miller Lake.
Message 34358754
Saville points out that the primary determinant of the gold price, the 10-year TIPS yield, is at a decision point, just above 1.5%. If it breaks below 1.50% on more than a temporary basis, that should propel gold well into the $2000s, but if it heads back up, we should get a new multi-month low for the PoG. |
